(Yicai Global) Jan. 7 -- China will sell around 110 million handsets with fifth-generation mobile connectivity this year as 5G networks become more widely commercial available, according to research from GfK.
Sales in China would make up about 65 percent of the 170 million global total, the German market researcher said in a report published today ahead of the CES, which kicks off in Las Vegas today. This year's show is set to be a big hit with an Apple executive delivering a keynote at the event for the first time since 1992.
China has been expanding its share of the global smartphone market over the past three years and commanded 54 percent of the sector last year, up from 45 percent in 2018 and 38 percent in 2017, it added.
Chinese brands are now scoping out overseas markets, like Western Europe and Latin America, as they have huge potential compared to China's saturated domestic sector, according to the report. China's smartphone market made up 21 percent of the global total in 2019, down from 23 percent in 2018 and 28 percent in 2017, though GfK believes the country's 5G exploration could bump this back up.
The new retail revolution brought about by 5G has also made brand stores more attractive to consumers, with sales at physical stores rising to 15 percent in 2019, up from 12 percent in 2018 and 6 percent in 2017, according to GfK data.
Many manufacturers are also branching out to create smart wearables, home appliances and televisions, with non-phone sales at Chinese handset makers making up 9 percent of their total sales in 2019, up from 7 percent in 2018 and 6 percent in 2017.
Editors: Dou Shicong, James Boynton